GAMMA Investing LLC Grows Stake in Fresh Del Monte Produce, Inc. $FDP

GAMMA Investing LLC grew its stake in shares of Fresh Del Monte Produce, Inc. (NYSE:FDP) by 35.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,081 shares of the company’s stock after acquiring an additional 2,354 shares during the quarter. GAMMA Investing LLC’s holdings in Fresh Del Monte Produce were worth $294,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Waterfront Wealth Inc. grew its holdings in shares of Fresh Del Monte Produce by 111.0% in the first quarter. Waterfront Wealth Inc. now owns 47,673 shares of the company’s stock worth $1,470,000 after acquiring an additional 25,081 shares during the period. New York State Teachers Retirement System raised its holdings in Fresh Del Monte Produce by 17.4% during the first quarter. New York State Teachers Retirement System now owns 22,741 shares of the company’s stock valued at $701,000 after acquiring an additional 3,371 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Fresh Del Monte Produce by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,135,569 shares of the company’s stock worth $35,010,000 after purchasing an additional 30,216 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in Fresh Del Monte Produce by 17.6% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 78,671 shares of the company’s stock valued at $2,425,000 after buying an additional 11,796 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its position in shares of Fresh Del Monte Produce by 65.5% during the first quarter. CWA Asset Management Group LLC now owns 31,131 shares of the company’s stock valued at $960,000 after buying an additional 12,316 shares during the last quarter. Institutional investors own 64.83% of the company’s stock.

Fresh Del Monte Produce Trading Up 1.9%

Shares of NYSE:FDP opened at $34.99 on Friday. The business has a 50-day moving average price of $35.97 and a 200-day moving average price of $33.70. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 11.22 and a beta of 0.43. The company has a quick ratio of 1.11, a current ratio of 2.08 and a debt-to-equity ratio of 0.10. Fresh Del Monte Produce, Inc. has a 52-week low of $26.50 and a 52-week high of $40.75.

Fresh Del Monte Produce (NYSE:FDP) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.95 by $0.28. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. Fresh Del Monte Produce had a net margin of 3.49% and a return on equity of 6.84%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 EPS.

Fresh Del Monte Produce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 5th. Shareholders of record on Wednesday, August 13th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 13th. Fresh Del Monte Produce’s payout ratio is currently 38.46%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Fresh Del Monte Produce from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th.

Insider Buying and Selling at Fresh Del Monte Produce

In other Fresh Del Monte Produce news, SVP Ziad Nabulsi sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $35.95, for a total value of $35,950.00. Following the completion of the transaction, the senior vice president owned 10,498 shares of the company’s stock, valued at $377,403.10. This trade represents a 8.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ghazaleh Mohammad Abu sold 7,575 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.61, for a total value of $277,320.75. Following the sale, the chief executive officer directly owned 5,040,782 shares in the company, valued at $184,543,029.02. This represents a 0.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 137,039 shares of company stock valued at $5,010,709 over the last three months. 31.60% of the stock is currently owned by company insiders.

About Fresh Del Monte Produce

Fresh Del Monte Produce Inc, through its subsidiaries, produces, markets, and distributes fresh and fresh-cut fruits and vegetables in North America, Central America, South America, Europe, the Middle East, Africa, Asia, and internationally. It operates through three segments: Fresh and Value-Added Products, Banana, and Other Products and Services.